Orange homeowners could be hit at the hip pocket if Council chose to implement the latest special rate variation.
Subscribe now for unlimited access.
$1/
(min cost $8)
Login or signup to continue reading
The Independent Pricing and Regulatory Tribunal has ruled that councils across the state can increase their rates revenue by 4.5 to 5.5 per cent in 2024-25, plus additional percentages for growth areas.
The rate peg has been raised to 4.7 per cent from 3.9 per cent and is the maximum Orange City Council can raise the rates in the 2024/2025 financial year.
Part of the 4.7 per cent increase is a 0.1 per cent "population factor" which is adjusted for the change in residential population of a council area from 2020/2021 to 2021/2022.
A statement IPART released said the purpose of a rate peg "allows all councils to automatically increase their rates income each year to keep pace with the estimated change in the costs of providing their current services and service levels to households, businesses and the broader community."
The peg also aims to limit the impact of the automatic increases on ratepayers.
Also making news: Drink, sing and be merry at Birdie Noshery
The Central Western Daily has previously reported Orange residents pay some of the highest rates in the region with the average annual bill of about $1500.
The rate peg has been increased to varying levels around the region. Bathurst Regional have a 4.8 per cent rate peg increase, Blayney the biggest jump with a 5.7 per cent rate peg, Cabonne will have a 4.6 per cent rate peg next financial year and Dubbo could see rate increases of up to five per cent.
IPART Chair Carmel Donnelly said the rate pegs were one of several factors councils needed to consider in their budgets.
"Councils across NSW provide important goods, services, and facilities to their local communities and fund their operations from a mix of income sources, one of which is general income. The rate peg represents the maximum percentage amount by which a council may increase its general income," she said.
Also making news: MIND YOUR BUSINESS | Games N beer unite at brewery
"It applies to each council's general income in total, not to individual ratepayers' rates. Councils may increase categories of rates by more or less than the rate peg, provided the total increase in general income remains within the rate peg."
Reading this on mobile web? Download our news app. It's faster, easier to read and we'll send you alerts for breaking news as it happens.
Download in the Apple Store or Google Play.
Grace Ryan
Deputy Editor at the Central Western Daily, Orange. You'll mostly find me tinkering in social media and newsletters. Working hard to get our stories in front of your eyes.
Deputy Editor at the Central Western Daily, Orange. You'll mostly find me tinkering in social media and newsletters. Working hard to get our stories in front of your eyes.
